HW2Sec4 - $0.00 Number of Fish Total Fishermens...

Homework for Experiment 2Problem 2.1Table 2.6: Demand Table for Sessions 1 and 2Price RangeAmount DemandedP>$250$20<P<$255$5<P<$2015P<$520Problem 2.2Part a) How many fish will be supplied at a price of $15?10Part b) How many fish will be supplied at a price of $5?10Part c) How many fish will be supplied at a price of $110Part d) What can you conclude about the supplyl curve for fish at positive prices?At all positive prices, 10 fish will be supplied.Problem 2.3Figure 2.2: Supply and Demand in Sessions 1 and 2.Problem 2.4Table 2.7: Predictions and Outcomes in Session 1ExperimentalCompetitiveOutcomePredictionMean Price $17.85$20.00Number of Fish Sold1010Total Fishermens' Profit$78.50$100.00Total Demanders' Profit$46.50$25.00Total Profits All Participants$125.00$125.00Problem 2.5Table 2.8: Predictions and Outcomes in Session 2ExperimentalCompetitiveOutcomePredictionMean Price $2.69

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